City of Chicago Had $1.36 Billion in Property Taxes in TIF Accounts on January 1, 2016

TIF Illumination Project Proves It's a Slush Fund

CHICAGO--(ENEWSPF)--July 22, 2016.  A review of the 2015 annual reports of the City’s 146 Tax Increment Financing Districts by volunteers with the TIF Illumination Project and In These Times revealed some startling facts about local government finance.

The total fund balance at the end of 2015, that is, all property tax dollars sitting in TIF accounts was $1,355,453,630 (a decrease from the $1.44 billion left in TIF accounts from the year prior). The TIF Illumination Project has issued a Freedom of Information Act request . . .

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